The government postponed by a week the
public auction of 74 hectares of the 103-hectare Food Terminal Inc. complex in
Taguig City to Aug. 14 to allow bidders more time to evaluate their positions.

The Privatization and Management
Office said in a statement it decided to move the bidding, which was originally
scheduled on Aug. 8, to accommodate investor requests for an extension of the
due diligence period.

The bidding date which was rescheduled
by four business days will also allow the bidders ample time to study
additional information about the agro-industrial asset.

“Supplementary documentation was made
available to bidders in response to queries raised during the July 20 pre-bid
conference for the property,” PMO chief Karen Singson said.

Bidders have until 11:30 a.m of Aug.
14 to submit their proposals to the PMO bids and awards committee in Makati
City.

Seven big property developers earlier
qualified for the auction, including Robinson’s Land Corp., Empire East Land,
Ayala Land Inc., Rockwell Land Corp., Century Properties Group Inc., SM Land
Inc. and Filinvest Land Inc.